Stock Market & Financial Investment News

Fertilizer makers rise after Agrium's preliminary profits beat expectationsSeveral fertilizer makers are climbing after Agrium (AGU), which develops agricultural nutrients, reported higher than expected preliminary fourth quarter earnings per share, or EPS. Agrium estimated that its EPS would be slightly above $2, versus analysts' consensus estimate of $1.73. The company's CEO, Mike Wilson, said that its fourth quarter results benefited from "a very strong finish to the fall application season in North American retail operations, supported by an extended fall season in the U.S. and continued strength in grain and oilseed prices." The Spring season is expected to be strong, due to continued strength in crop prices and low global grain inventories, Wilson added. In mid-afternoon trading, Mosaic (MOS) rose 2.42% to $60.90, Potash Corp. (POT) gained 1.52% to $42.63, CF Industries (CF) added 1.54% to $227.23, Intrepid Potash (IPI) jumped 3.70% to $22.71 and Agrium advanced 2.49% to $113.64.

News For AGU;CPO;SYT;BG;POT;IPI;MON;CMP;CF;DE;ANDE;ADM;DD;CNH;MOS From The Last 14 Days

Deere sees FY15 Financial Services net income to be about $630MThe outlook reflects the expected impact of the previously announced agreement to sell the crop insurance operations and growth in the average credit portfolio. These factors are projected to be partially offset by lower financing spreads, an expected increase in the provision for credit losses from the low level in 2014 and a less favorable tax rate.

Intrepid Potash sees 2015 potash sales 830K-870K tonsThe company said, "Potash sales volume this year is expected to approximate production volume as Intrepid entered 2015 with low inventory levels after the record sales volumes in 2014. The 2015 production and cost outlooks are similar to 2014 levels as a result of reduced solar production from the Wendover facility due to abnormally high precipitation during 2014 that supported below average evaporation rates. Per ton cash operating costs and cost of goods sold for potash are expected to improve in the second half of 2015. This trend incorporates the positive production mix shift to more low cost solar solution tons in the second half of this year including the continued ramp-up of the HB mine. The HB mine remains on track to achieve full production levels in 2016."

CF Industries backs FY15 corn planting forcast of 90M acresFor FY15, the company expects total capital expenditures in a range of $2.0B-$2.5B. This consists of between $1.5B-$2.0B for the capacity expansion projects and approximately $500M of sustaining and other capital expenditures.